Mr. Paul Huet reports

AMERICAS GOLD AND SILVER CLOSES US$132.25 MILLION BOUGHT DEAL FINANCING

Americas Gold and Silver Corp. has closed its previously announced (see Americas Gold's news release dated Nov. 13, 2025) bought deal private placement financing with a syndicate of underwriters led by Canaccord Genuity Corp. and BMO Capital Markets. The offering consisted of the issuance of 33,062,500 common shares at a price of $4 (U.S.) per offered share for aggregate gross proceeds of $132.25-million (U.S.), including the full exercise of the underwriters' option.

The net proceeds of the bought deal financing are expected to be used to finance the cash portion of the purchase price in connection with the binding purchase agreement to acquire 100 per cent of Crescent Silver LLC, which owns the Crescent mine in Idaho, and to finance capital expenditures and support working capital at the Crescent mine following completion of the acquisition, as well as for working capital and general corporate purposes.

Paul Andre Huet, chairman and chief executive officer, commented: "We are very pleased to have completed the $132.25-million (U.S.) oversubscribed bought deal financing and welcome several new large shareholders to our register. We expect the Crescent acquisition to close in the coming days and with financing now in place, we stand fully funded for the anticipated near-term capital investments that will be required to advance Cresent into a production decision. Across both Galena and Crescent, we will continue with our aggressive exploration drilling program in support of our production ramp-up at the Galena and our production decision at Crescent. I am also very pleased to announce a positive development update at Galena, where we are now able to complete a major upgrade well ahead of schedule. Just one week ago, we received our new hoist motors for the Coeur shaft, a delivery we had scheduled in 2026, and are now in a position to replace and upgrade the existing hoist motor ahead of schedule like we did at the No. 3 shaft. This will allow us to test the new hoist motors and accelerate work we had planned in 2026. To accommodate this early upgrade, we now plan for a 21-day pause of production in December. With this upgrade in place and the strong balance sheet following our financing, 2026 is shaping up to be a very strong year ahead.

"We look forward to hitting the ground running and getting to work at Crescent as soon as the acquisition closes to maximize the value of the operation and our facilities at Galena over the years ahead."

The offering attracted interest from several key large institutional investors, including Americas Gold's largest shareholder, Eric Sprott. An entity beneficially owned by Mr. Sprott purchased an aggregate of 900,000 offered shares pursuant to the offering. The subscription by Mr. Sprott is considered to be a related party transaction for the purposes of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company did not file a material change report more than 21 days before the expected closing date of the offering as the details of the offering and the participation therein by any related party of the company were not settled until shortly prior to the closing of the offering, and the company wished to close the offering on an expedited basis for sound business reasons. The company is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The company is exempt from the formal valuation requirement in Section 5.4 of MI 61-101 in reliance on Section 5.5(a) of MI 61-101 as the fair market value of the transaction, insofar as it involves interested parties, is not more than 25 per cent of the company's market capitalization. Additionally, the company is exempt from minority shareholder approval requirement in Section 5.6 of MI 61-101 in reliance on Section 5.7(1)(a) of MI 61-101 as the fair market value of the transaction, insofar as it involves interested parties, is not more than 25 per cent of the company's market capitalization.

The offered shares are subject to a statutory hold period of four months and one day from the closing date in accordance with applicable securities laws. The offering is subject to final acceptance of the Toronto Stock Exchange.

About Americas Gold and Silver Corp.

Americas Gold is a rapidly growing North American mining company producing silver, copper and antimony from high-grade operations in the United States and Mexico. In December, 2024, Americas Gold took full ownership of the Galena complex (Idaho) in a transaction with Mr. Sprott and Paul Huet-led management team, solidifying Galena as a cornerstone U.S. silver asset and the nation's leading active antimony-producing mine. Americas Gold also owns and operates the Cosala operations in Sinaloa, Mexico. Mr. Sprott, the largest shareholder (approximately 20 per cent), and Americas is fully financed to grow aggressively grow production at Galena. The company has a new non-restrictive five-year multimetal offtake agreement with Ocean Partners for treatment of any amount of Galena's concentrates at Teck Resources' British Columbia smelter. Americas Gold aims to be a leading North American silver producer and a key source of United States-produced antimony.

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